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Locala Unveils New Insights for Hyperlocal Advertising
September 18, 2023
Ever wonder how your in-store foot traffic levels are evolving by area? Or why different media channels are more impactful in certain markets? Let’s face it; effective advertising campaigns are all about understanding your consumers. But it’s not just about knowing who they are; it’s about understanding where your brand stands in the local and national arena and the most effective ways to reach them.
At Locala, we’re on a mission to make consumer insights and multi-location advertising easy. We are an omnichannel advertising platform that leverages consumer insights and machine learning AI to help marketers efficiently plan, buy, and measure multi-location campaigns on a global scale. We recently launched two new features on our insights platform that provide even more in-depth consumer insights to our clients. The first, Traffic Share, helps brands understand how their foot traffic stacks up against the competition at the local and national level. And the second, Media Receptivity, is a tool that helps you determine the optimal media mix that will drive the best results at the store level.
Competitive Foot Traffic Insights for Long Term Growth
From a technical standpoint, Traffic Share represents the visit share percentage of an industry that is earned by a particular brand. But let's break it down in simpler terms: Traffic Share acts as your compass, revealing the domains where you’re thriving and illuminating areas where there's room to grow in comparison to your competitors.
Leveraging Locala's mobility data, we can conduct an analysis of the consumer journey relative to a brand’s network of physical store locations, evaluating traffic share rankings. Using this information, we can then develop segments to effectively implement local media strategies, capitalizing on opportunities for both expansion and conversion.
For example, brand dominated regions may require reach or extension media strategies focused on converting low-affinity competitive audiences. Meanwhile, brand challenged regions require immediate conversion strategies that focus on reaching high-affinity brand audiences.
The Right Media Mix for Store Level Results
In a world where everyone's got their eyes glued to screens and speakers, Media Receptivity is your secret sauce for advertising success. Media Receptivity is all about measuring how individuals are influenced by various forms of media in their purchase decision-making process. It goes beyond traditional demographic targeting and instead focuses on understanding the receptivity of your target audience to different media types. By identifying the most receptive areas for activation, advertisers can allocate their budgets more effectively, ensuring they invest in the media channels that make the most significant impact.
What truly sets Locala apart is its granularity. While receptivity data has traditionally been available only at the national level, we bring it down to the hyper-local level. This means you can tailor your advertising strategy to resonate with the unique media preferences and receptivity of consumers in specific neighborhoods, or even zip codes. It's the kind of precision that transforms your advertising from a shotgun approach to a laser-focused, results-driven strategy.
What’s even better, is that you have a wealth of media options at your disposal. Whether you're considering display advertising on desktop and mobile, diving into the world of Connected TV (CTV), harnessing the power of audio, or leveraging the impact of online video through pre-roll ads, Locala empowers you to make informed decisions about which channels will yield the best results for your brand.
The Power of Hyperlocal
In the advertising industry, staying ahead means grasping the competitive edge. Armed with traffic share and media receptivity insights, brands can ensure their campaigns hit the mark and make every marketing dollar count. And with Locala’s hyper-local precision and in-depth consumer insights, we empower brands like Nespresso, Audi, L’Occitane, and more, to make informed, omni-channel media decisions in order to achieve store-level advertising results.
Interested in learning more about Locala’s insights platform? Contact our team now!